Used as an intermediate in organic synthesis, particularly in the development of pharmaceuticals and biologically active compounds. Its structure contains both hydroxymethyl and ester functional groups, making it valuable for constructing complex molecules through selective transformations. Commonly employed in the preparation of cyclobutane-based analogs in medicinal chemistry, where the strained ring system can influence metabolic stability and target binding. Also utilized in the synthesis of specialty polymers and agrochemicals due to its rigid aliphatic framework.